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Merchants May Require Up To $10 Minimum Credit Card Purchase

Thursday, August 25, 2011 - 10:37 AM
A little noticed passage in the law gives federal blessings to those handwritten "$x minimum for credit card transactions".   It went into law because it was tucked into a bill that became an 848-page legislative behemoth -- the Dodd-Frank Wall Street Reform and Consumer Protection Act. As fierce debates took place over whether the legislation created or preserved "too big to fail" banks, and whether to set a cap on debit card interchange fees, the short section on credit card minimum payments survived. 

It's the law: Merchants may require up to $10 minimum payments on credit card purchases
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pearlbrownpearlbrown1,436 posts since
Nov 2, 2010
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